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Snapdeal founders aggressive on Plan B, evaluate Infibeam offer as Flipkart deal falls in limbo

Flipkart's revised termsheet has a lot of 'hold backs' and 'clauses' that make an all-stock deal 'difficult' to consider for Snapdeal, sources told Moneycontrol.

February 04, 2020 / 12:13 PM IST

Snapdeal founders Kunal Bahl and Rohit Bansal have been conducting one-on-one meetings with senior executives including heads of multiple business units to firm up their plans for an alternative path, hinting that the much-talked-about deal with rival Flipkart could have potentially hit a roadblock, according to multiple persons privy to the development.

These meetings have been taking place at least since the last one week.

Snapdeal received two offers from Flipkart for an all-stake acquisition in July. While the first one USD 550 million was way below the e-commerce firm's expectation of USD 1 billion, the second offer that came last week was around USD 900 million.

According to one of the sources mentioned above, it's not a negotiation on just the numbers any more. The term sheet has a lot of 'hold backs' and 'clauses' which make it a really 'difficult deal' now.